An Overview of Personal Loans

With the economy in such dire straits, many people are looking to different types of loans to take care of their bills while searching for second jobs. Personal loans are loans made directly to the borrower from a bank or lending house. Covering everything from medical bills to credit cards to student loans, these loans are helping people get what they need, when they need it. While there are many different types of personal loans, the can all be categorized as one of two different types: secured and unsecured. Which type of loan you get is dependent on what you will be using the money for. Some loans are available in both secured and unsecured options, while others are only found as one or the other.

Secured personal loans are provided by specific lenders, and have their repayment secured by a physical item. This is how they get their classification. The two most common types of secured loans are home mortgages and car loans. The loans are made specifically for a single purchase. This purchase is repaid in set amounts every month over the length of the loan. If payments are ceased, the lender repossesses the item – the car or the house – in lieu of payment. In contrast, Unsecured Personal Loans are the more common and the more recognizable. Unsecured loans cover a vast majority of ground, from store lines of credit to student loans to medical bills. Once these loans are issued, they can be used for a range of items and services. In addition, many unsecured loans have variable interest rates that can change monthly or annually.

For people who need extra money to pay for a car or a college education, personal loans are available to help fund their needs lenders are available for all credit situations.

When in a hole stop digging

Although there is general consensus that an economy sinking in unsustainable debt must desist from borrowing, this is a point that unfortunately needs to be driven home hard to President Robert Mugabe's government.

Zimbabwe Independent Editorial

Only this week the International Monetary Fund (IMF) rang alarm bells after Zimbabwe contracted new non-concessional loans to the tune of US$300 million.

This was despite an agreement that government would put a US$330 million ceiling on non-concessional external debt under the IMF's supervised economic reform plan, the Staff Monitored Programme (SMP).

The SMP is an informal agreement between country authorities and the fund's...

CPS – Consumer Portfolio Services Inc.: CPS Announces Second Quarter 2014 …


Annualized net charge-offs for the second quarter of 2014 were 4.98% of the average owned portfolio as compared to 4.03% for the second quarter of 2013. Delinquencies greater than 30 days (including repossession inventory) were 6.21% of the total owned portfolio as of June 30, 2014, as compared to 5.16% as of June 30, 2013.

As previously reported, during June CPS closed its second term securitization transaction of 2014 and the 13th transaction since April 2011. In the senior subordinate structure, a special purpose subsidiary sold five tranches of asset-backed notes totaling $202.5 million.The notes are secured by automobile receivables purchased by CPS and have a weighted...

The credit cards of the credit elite

While some credit cards users struggle to control their debt and make their minimum payments on time, others have responsible credit card use down to a science. They treat credit cards only as a convenient method of payment, and pay every statement balance in full and on time. Not only do these super users avoid interest charges, but their savvy use of credit cards, and other types of loans, vaults them into the ranks of the credit elite.

Those who pay their bills on time, and have little, if any, debt, are nearly certain to enjoy credit scores of 750 and above. The credit elite can apply for any card they want, with confidence that they will most likely be approved. In most cases, approval...

Looters Stole Cash, Credit Cards, and Jewelry from Flight MH17 Crash Victims

The crash site of Malaysia Airlines Flight 17, which went down yesterday afternoon after being shot with a missile,is now being looted. This is not only causing issues for the investigation, but also for the families of the victims on board, who will now not be able to recover the lost property of the 298 dead passengersand crew.

After the crash, investigators were unable to get to the site quickly and rope it off to preserve evidence. This allowed armed separatists and locals to essentially raid the scene. Suitcases were removed from the wreckage and pillaged. The coldhearted looters stole a variety of personal possessions, butleft behind some apparent undesirables: a Minnie Mouse...

Credit Cards at College: Making Smart Choices from Day One

With the freedom of being at college and away from parents comes financial independence, at least on the spending side - which is why many students get in trouble by overspending once they have a core card account. "They think of it as a bottomless source of money," Myhre said.

Some credit cards may lure you with incentives such as a 0 percent introductory rate for a few months, but such features might encourage you to carry a balance, which could cost you dearly once the introductory period expires and the rate shoots up to double digits. Instead, go for a card with fewer bells and whistles - and pay your full balance on time every month. If your payment is late, you'll be charged a late...

Medical credit cards: Why they can cost you big

The high cost of dentistry is apparently fueling a burgeoning market in medical credit cards, with more than 4.4 million Americans financing their root canals, orthodontia and other medical and veterinary procedures this way.

These cards, which charge interest rates ranging from 10 percent to nearly 30 percent, help consumers pay for medical services that are not covered by health insurance, according to a recent study by the Government Accountability Office. And theyre are great deal for the dentists, doctors, veterinarians and other medical professionals that offer them because the credit issuer provides payment to the doctor for the cost of the service, usually within 72 hours of processing...

Breach of credit cards in Delaware, restaurant association says

There have been reports of credit cards information possibly being breached, and it might be tied to electronic processing systems, according to an email sent Wednesday morning by the Delaware Restaurant Association.

The email uses words such as potential and possible, and it does not cite source that confirms that the issue is widespread. Instead, the email suggests that proactive action is suggested in case there is a problem.

The association urged those with remote access software programs to take a look at information security measures. The group suggests that businesses should make sure no one can gain remote access the system without a two-step verification process. The email...

Can Credit Card Company Garnish IRA?

Dear Credit Card Adviser,

I have a credit card that I am unable to pay off. I have retirement accounts with the same bank that issues the card. If I default on my credit card, how will it affect my retirement funds?


Dear Bebe,

Before a delinquent credit card could jeopardize the money youve set aside for retirement, youd have to be successfully sued by the financial firm (or the third party it sells the debt to) and have a judgment placed against you.
Cutting credit card in half  AntonioDiaz/
The fact that your credit card and your retirement funds are with the same bank is moot, as the firm would have no better ability to get at certain...

Chinese commodity financing scam dents copper’s prospects

Copper prices on the London Metal Exchange have dropped over five per cent since the beginning of the year to $6,987 (#8377;4.22 lakh) a tonne. A major reason for this fall is the drop in demand after a scandal over financing of commodities broke out in China. Data on Chinese copper imports show sharp drop in consumption.

The scam came to light a couple of months ago and it has seen copper shipments to China drop drastically. In May, copper imports declined 16 per cent to 3,80,000 tonnes from April and last month they slipped further to 3,50,000 tonnes.

Copper prices could come under more pressure after Citigroup Inc Chief Financial Officer John Gerspach said, during the weekend,...

Nearly 70% of U.S. Consumers Want Their Chip-and-PIN Credit Cards

NEW YORK ( -- Consumers in the United States are more than willing to transition to chip-and-PIN cards. In fact, arecent surveyindicates the majority of Americans are looking forward to the transition, with higher-security cards thatcontain a computer chip and require the cardholder to enter a PIN.

According to a survey from Vision Critical, 69% of Americans believe EMV chips will make their purchases more secure, since the cards are hard to duplicate and a thief must know the cardholders PIN to complete a transaction. Only 5% believe the chips will lessen the security on their cards.

Americans are anxious to use chip-based credit cards, but 64% of respondents...

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